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households as a high priority for the City. One of the rating criteria is the bedroom size of the <br />proposed units. Project design and construction will be subject to and carried out in accordance <br />with established City standards and procedures. In accordance with the City's Early Outreach <br />policy (Attachment 5), the selected developer may be required to solicit significant neighborhood <br />input during the design process. <br />b. AVAILABLE FUNDS <br />As of the release date of this RFP, the City has approximately $2.8 million in HOME Investment <br />Partnership Act funds that may be used for development of multifamily projects. HOME Program <br />expenditures are limited to an amount equal to the maximum subsidy limit established by HUD for <br />units based on bedroom size times the number of such units. As of the date of this RFP, the <br />maximum subsidy limits were as follows: <br />Number of <br />Bedroom <br />s HOME Maximum <br />Subsidy <br />0 $132,814 <br />1 $152,251 <br />2 $185,136 <br />3 $239,506 <br />4 $262,903 <br />Only HOME assisted units count toward the calculation of the HOME Program funds that may be <br />invested in a project. HOME assisted units are deed restricted to rents and incomes eligible under <br />the HOME Program. As of the release date of this RFP, the City has approximately $1.0 million in <br />Community Development Block Grant funds that may be used for development of multifamily <br />projects. CDBG expenditures are not limited by the number of CDBG funded units in the project. <br />Allowable uses of these funds vary somewhat by fund type (HOME vs. CDBG) and project type <br />(acquisition/rehabilitation vs. new construction. The following table outlines the allowable uses of <br />these funds for this RFP: <br />Activity HOME CDBG <br />Acquisition of <br />Existing Project Yes Yes <br />Rehabilitation of <br />Existing Project Yes Yes <br />Land Acquisition for <br />New Construction Yes No <br />Soft Costs Yes Yes <br />c. TERM OF AFFORDABILITY AND MAXIMUM ALLOWABLE RENTS <br />The selected developer shall enter into a Loan Agreement with the City of Santa. This Agreement <br />and other attendant documents shall provide for repayment of the loan over a period of thirty <br />years. They shall also impose affordability covenants of fifteen (15) years for <br />City of Santa Ana Community Development Agency <br />Request for Proposals for Affordable Housing Development <br />Page 11 <br />19E-14